Planet Fitness (PLNT) FY2024 results: revenue $1.2 billion, up 10.3% on the year

Planet Fitness, Inc. (PLNT) reported revenue of $1.2 billion for fiscal 2024, the year ended 31 December 2024, up 10.3% on the year before. Net income was $172 million, up 24.4%, and diluted earnings per share $2.00. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.

Revenue

$1.2 billion

+10.3% on the year

FY2017FY2024

Operating margin

27.4%

25.5% a year earlier

FY2017FY2024

Net income

$172 million

+24.4% on the year

FY2017FY2024

Diluted EPS

$2.00

+23.5% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,182	1,071	937	+10.3%
Cost of revenue	197	190	177	+3.7%
Gross profit	985	881	760	+11.7%
Gross margin	83.3%	82.3%	81.1%
Selling, general and administrative	129	125	115	+3.4%
Operating income	324	273	230	+18.8%
Operating margin	27.4%	25.5%	24.6%
Interest expense	100	86.6	88.6	+15.5%
Pre-tax income	247	208	161	+18.9%
Income tax	68.4	58.5	50.5	+17.0%
Effective tax rate	27.7%	28.2%	31.3%
Net income	172	138	99.4	+24.4%
Net margin	14.6%	12.9%	10.6%
Diluted EPS	$2.00	$1.62	$1.18	+23.5%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	344	330	240	+4.1%
Capital expenditure	155	136	100	+14.0%
Free cash flow	189	194	140	-2.8%
Free cash flow margin	16.0%	18.1%	15.0%
Cash from investing	-209	-340	-507
Cash from financing	-105	-141	136
Depreciation and amortisation	160	149	124	+7.3%
Share-based compensation	8.9	7.9	8.1	+12.7%
Buybacks	300	125	94.3	+140.1%
Diluted shares, weighted	86m	85m	85m	+0.8%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	-215	-116	-199
Non-controlling interest	0.0	-3.3	-12.5
Debt	2,171	1,984	1,999	+9.4%
Operating lease liabilities	405	382	342	+6.2%
Finance lease liabilities	0.0	0.1	0.4	-68.3%
Other liabilities	709	723	725	-2.0%
Total liabilities and equity	3,070	2,970	2,855	+3.4%
Goodwill	721	718	703	+0.4%
Intangible assets	323	373	417	-13.2%
Investments	180	126	0.0	+43.0%
Cash and equivalents	293	276	410	+6.3%
Receivables	77.1	41.9	46.2	+84.2%
Inventory	6.1	4.7	5.3	+31.4%
Other assets	1,469	1,431	1,273	+2.7%
Total assets	3,070	2,970	2,855	+3.4%

10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.